The Akwa Ibom chapter of the Independent Petroleum Marketers Association of Nigeria (IPMAN) says its members are currently lifting petrol at the cost of N144 per litre as against N133.28 approved by government.

The state IPMAN Chairman, Mr. Ubong Isong, disclosed this on Thursday in Eket while speaking with newsmen on the current price hike of petrol in Akwa Ibom.

Isong explained that the private depot owners were selling the product to marketers at N144 as against the approved rate of N133.28 at the NNPC depots.

He said the price increase witnessed at the private depots was responsible for the increase of pump price of petrol from N145 to N158 per litre in the state.

“We want to let you know that our operation recently is having problem of price.

“What I can say exactly is that private depot owners have increased the price of petrol sold to our members, this affects the petrol price at the outlet stations in the state.

“The product we received is not being given at government approved ex-depot price of N133.28,” Isong reiterated.

He said that marketers’ profit margin had been seriously tampered with by private tank farm operators in the state.

IPMAN Chairman, however, lamented that the allocation of product from NNPC to the state had been grossly inadequate, alleging that the private depot owners did not have enough product supply.